Rwanda Reasserts Cryptocurrency Ban After Bybit P2P Integration

The National Bank of Rwanda has issued a firm reminder that cryptocurrency operations remain prohibited within the country. This regulatory stance was reinforced following the recent move by global exchange Bybit to introduce Rwandan franc functionality to its peer-to-peer (P2P) trading platform.

In response to the exchange’s integration, Rwandan financial authorities reiterated that the use of digital assets for payments is a violation of existing national law. The central bank emphasized that its previous directives regarding the status of virtual currencies remain in effect, effectively barring any platform from facilitating crypto-related transactions involving the local currency.

Bybit had recently expanded its P2P services to include the Rwandan franc, a move intended to provide local users with a direct gateway to digital asset trading. However, the National Bank of Rwanda has been clear in its position that such activities fall outside the scope of authorized financial operations. The regulatory body continues to maintain a strict oversight approach toward crypto-assets, citing legal constraints that prevent their adoption as a payment method or an official financial instrument. As of now, the government maintains that the status of these assets has not changed, and market participants operating within the country are expected to comply with established national financial regulations.